The Cigna Group (NYSE:CI) Price Target Increased to $400.00 by Analysts at Oppenheimer

The Cigna Group (NYSE:CI) had its target price hoisted by Oppenheimer from $370.00 to $400.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the health services provider’s stock.

Other analysts also recently issued reports about the stock. StockNews.com upgraded shares of The Cigna Group from a buy rating to a strong-buy rating in a research report on Thursday, March 14th. Cantor Fitzgerald reiterated an overweight rating and issued a $384.00 target price on shares of The Cigna Group in a report on Wednesday, April 10th. Sanford C. Bernstein raised shares of The Cigna Group from a market perform rating to an outperform rating and boosted their price target for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Mizuho raised their price objective on The Cigna Group from $360.00 to $370.00 and gave the stock a buy rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada upgraded The Cigna Group from a sector perform rating to an outperform rating and lifted their target price for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $366.14.

The Cigna Group Trading Down 0.9 %

The Cigna Group stock traded down $3.00 during mid-day trading on Friday, hitting $341.50. The stock had a trading volume of 2,413,548 shares, compared to its average volume of 1,380,653. The stock has a market capitalization of $99.84 billion, a PE ratio of 28.04, a P/E/G ratio of 1.05 and a beta of 0.57. The Cigna Group has a 12 month low of $240.50 and a 12 month high of $365.71. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.75. The stock has a 50-day simple moving average of $350.77 and a two-hundred day simple moving average of $319.59.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the previous year, the firm posted $5.41 earnings per share. The Cigna Group’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Cigna Group will post 28.4 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

Insider Activity

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 over the last ninety days. Insiders own 0.60% of the company’s stock.

Institutional Trading of The Cigna Group

A number of large investors have recently added to or reduced their stakes in the company. Silicon Valley Capital Partners boosted its stake in shares of The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after acquiring an additional 35 shares during the period. Bogart Wealth LLC boosted its position in The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management acquired a new position in shares of The Cigna Group in the third quarter valued at $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at about $29,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Company Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.